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Class III milk futures on the CME opened the week higher, with October up 21 cents to $17.51 and November up 32 cents to $17.34. Cash dry whey, blocks, barrels, butter and nonfat dry milk were mostly firm.
Stronger cash markets feed into futures and the forward milk price. This is a routine market move without a new cause.
brownfieldagnews.comMark DorenkampSep 28, 2021brownfieldagnews.comNicole HeslipSep 27, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
Class III futures opened the week higher on 2021-09-27 with firm cash dairy (whey, blocks, barrels), building the upward momentum that preceded the 9/29 move.
Class III futures opened the week higher with firm cash dairy (whey, blocks, barrels), showing the buying momentum that preceded the 2021-09-28 jump, though the 21-32 cent gains are far smaller than an 8% move.
